The Opportunity in Semi-Conductors

Chris Davis and Bill Miller reflect on 40 years of friendship and how temperament has impacted their respective investment styles

Why are Financials attractive now? Financials are the cheapest sector in the market, yet have the strongest balance sheets in their history, growing market dominance, record net income and an improving regulatory environment.

The danger of investment products built on back testing. Markets continuously evolve and factors that seemed to have worked in the past may not work going forward.